Anheuser-Busch InBev, the global brewing company, experienced its highest increase in share value in three months on Wednesday. This surge came as former President Donald Trump expressed support for the company and encouraged people to give them another opportunity.
During the Brussels trade, Anheuser-Busch InBev’s stock (ABI, +3.96% BUD, +2.94%) rose by 4%. This marks their most substantial single-day gain since a 5% increase on October 31.
Donald Trump utilized his Truth Social media platform to address the declining sales of Bud Light. The brand’s sales in the United States have been on the decline following a controversial social-media post by transgender star Dylan Mulvaney. Mulvaney’s post featured a personalized can of Bud Light, triggering both anger and confusion among customers. As a result, Bud Light’s volume plummeted by 29.5% year-over-year in January, as indicated by the latest Nielsen data. Additionally, Budweiser volumes experienced a 15.4% decrease.
In defense of Anheuser-Busch InBev, Trump stated that while the Bud Light ad was a significant mistake with severe consequences, the company is not aligned with the “Woke” ideology. He highlighted that the company invests $700 million annually in U.S. farmers, employs 65,000 individuals, and provides scholarships.
Trump raised the question of whether Anheuser-Busch InBev, being a great American brand, deserves a second chance. He also prompted consideration of focusing attention on companies that he believes are actively working against America.
Overall, this endorsement from Donald Trump has had a positive impact on Anheuser-Busch InBev’s stock performance. The company will likely be even more motivated to regain customer trust and reestablish its position in the market.
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